Home. Design. The Beauty of Both.
SOLD
Three Bedrooms ~ Two Baths
Main Floor Master ~ Open Floor Plan ~ Hardwood Floors
Newer Roof and Mechanicals ~ Walkout Lower Level
Double Attached Garage ~ Close to Golf Courses ~ 9.55 Acres
Approximately 2400 Finished Square Feet ~ Taxes: $4208
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Here’s an oldie but goodie: All Real Estate is Local. We’ve all heard it. This is why industry insiders don’t pay much attention to national housing statistics. The national housing market is just an agglomeration of local housing markets. You don’t grab an umbrella in Miami based on the weather forecast in Seattle. So why would someone in San Francisco base a home sale or purchase decision on market data from Boston? Here’s your data for your local housing market.
In the Twin Cities region, for the week ending February 16:
• New Listings decreased 4.9% to 1,196
• Pending Sales increased 7.9% to 916
• Inventory decreased 31.0% to 12,309
For the month of January:
• Median Sales Price increased 14.3% to $160,000
• Days on Market decreased 24.1% to 107
• Percent of Original List Price Received increased 2.5% to 93.5%
• Months Supply of Inventory decreased 40.0% to 3.0
As reported by the Minneapolis Area Association of Realtors
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Ready to buy or sell a home? Call the sister team.
We’d love to help you move forward.
Ellen and Kate Walsh
Coldwell Banker Burnet
612.220.3304
emwalsh@cbburnet.com
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The other day I was at The Galleria shopping mall in Edina. As I strolled down the hallway, my attention was caught by a large, spherical fountain. I immediately went to see it up close. It was beautiful. It was located within/outside Lili Salon – Spa.
I asked Andrea, a massage therapist at the salon, about the fountain. She told me it was created by Allison Armour. I had suspected as much since I had written about her fountains and garden art some time ago. That post is titled Art in the Garden. It was such a pleasure to see her work in person.
If you’re equally enchanted by this sculpture and fountain (known as an Aqualens), make a point of stopping by to see it. Clever Lili Salon – Spa placed their doors so that the fountain remains outside the salon, allowing visitors to get an up close view any time. I didn’t have my camera to take a photo so here’s one from the original post I wrote about Allison’s work.
A lot of people find the holidays stressful. If you find yourself in need of pampering, perhaps an appointment for services at Lili Salon – Spa will bring needed relief.
Lili Salon – Spa
3464 Galleria
Edina MN 55436
952-935-5000
salonlili.com
Over the course of the year, we’ve cleverly devised new tactics each week to communicate just how far the market has come. This week is no exception. Most level-headed housing advocates agree that lower residential vacancy rates are a good thing. Well, chalk one up for level-headed housing advocates, because Reuters just reported that the U.S. residential vacancy rate fell to 1.9 percent in the third quarter. That’s the lowest level in seven years. It’s just the latest installment of overwhelming bullish housing news.
In the Twin Cities region, for the week ending October 27:
• New Listings decreased 3.0% to 1,037
• Pending Sales increased 11.1% to 914
• Inventory decreased 28.8% to 15,700
For the month of September:
• Median Sales Price increased 12.7% to $174,625
• Days on Market decreased 28.5% to 101
• Percent of Original List Price Received increased 4.1% to 94.8%
• Months Supply of Inventory decreased 38.8% to 4.1
As reported by the Minneapolis Area Association of Realtors
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Ready to buy or sell a home? Call the sister team.
We’d love to help you move forward.
Ellen and Kate Walsh
Coldwell Banker Burnet
612.220.3304
emwalsh@cbburnet.com
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I just couldn’t resist these three lovely ladies riding their brooms!
A friend sent this photo of a pumpkin carving contest.
Here are ideas for Decorating for Halloween, Naturally
Have a sweet-filled day and a spooky, fun night.
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On Tuesday I spent the afternoon with a friend. We walked around Lake of the Isles. The crimson and golden hues presented plenty of photo opportunities. Here’s are some photos from the afternoon walk. Big thanks to my friend for stopping and waiting for me to capture all the images.
I love this week’s theme from the WordPress Weekly Photo Challenge. There are so many opportunities to capture people in the midst of their everyday lives. What do you see in your life? Here are things I saw on a recent trip to San Francisco and back here at home.
Mobile phones are a big part of everyday life
Another phone user, this time at the airport
A window cleaner
Cleaning at the airport
And back home again, at the Centennial Lakes Art Fair
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I happened upon this garden on Saturday.
This was part of a Peace Garden.
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A rental building in Minneapolis and the patio created by the artist tenant
A creative environmental message in Saint Paul, MN
A torn lace curtain in a window of a home in St. Paul, Minnesota
Learn about the WordPress Weekly Photo Challenge here.
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For decades now, the real estate industry has been both humbled and invigorated by the strong and direct relationship between the labor and housing markets. As goes the economy, seemingly so goes housing. That relationship was especially clear after the 2007 recession. The economy added 163,000 jobs in July, the highest figure since February. Our economy is growing, but not as quickly as many would like. Meanwhile, inventory drops and surging buyer demand from renters and first-timers are anchoring home prices and giving sellers more power than they’ve had in years, in many cases.
In the Twin Cities region, for the week ending July 28:
• New Listings increased 8.3% to 1,430
• Pending Sales increased 20.9% to 1,149
• Inventory decreased 30.5% to 17,103
For the month of June:
• Median Sales Price increased 10.2% to $178,600
• Days on Market decreased 22.0% to 113
• Percent of Original List Price Received increased 4.1% to 95.1%
• Months Supply of Inventory decreased 42.6% to 4.6
Click on any graph below to enlarge it.
As reported by the Minneapolis Area Association of Realtors.
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With the second quarter now in the books, seasonal peaks and valleys should start to become apparent. Even if activity begins to slow for the remainder of 2012, gains are still likely when compared to the same time last year. Housing demand has been strong, supply levels have been falling and prices are turning a corner in many local markets. Keep a watchful eye toward market times, percent of list price received at sale and months of supply.
In the Twin Cities region, for the week ending July 7:
• New Listings decreased 21.9% to 970
• Pending Sales increased 24.6% to 892
• Inventory decreased 30.8% to 17,134
For the month of June:
• Median Sales Price increased 10.4% to $179,000
• Days on Market decreased 22.0% to 113
• Percent of Original List Price Received increased 4.0% to 95.1%
• Months Supply of Inventory decreased 44.0% to 4.5
As reported by the Minneapolis Area Association of Realtors
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I came across this art and met the artist, Louise Harris, at the “Fall into the Arts Festival” in Edina. I was first struck by the three-dimensional aspect of the artwork. I then learned they were made from recycled furnace filters. Talk about creativity and vision!
Can you see the undulating waves of the smaller circles over the larger circles in this piece? I loved both of these pieces when I saw them.
Here’s a sampling of her smaller works. Ms. Harris is producing unique, beautiful and green art; she‘s also donating profits to non-profit organizations around the world. For more information, visit her website:
lhoriginals.com – The artwork of Louise Harris
Edina Fall Into the Arts Festival – Sept 8-9, 2012
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Market metrics are in the midst of seasonal peaks and valleys this time of year. Listings, sales and prices all tend to reach pinnacles on the historical trend line, while market times generally take a dip to annual lows. Summer is historically an exciting time for real estate. Between vacations to see family and friends and the crush of wedding weekends, Americans manage to find the time to buy and sell real estate. The last several years have been rough, no doubt, but an undeniable gleam has returned to the marketplace this year, and summer brings with it a certain extra swoon.
In the Twin Cities region, for the week ending June 16:
• New Listings decreased 3.7% to 1,476
• Pending Sales increased 19.8% to 1,173
• Inventory decreased 31.0% to 17,517
For the month of May:
• Median Sales Price increased 10.5% to $169,000
• Days on Market decreased 19.6% to 125
• Percent of Original List Price Received increased 3.8% to 94.6%
• Months Supply of Inventory decreased 43.9% to 4.6
As reported by the Minneapolis Area Association of Realtors.
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Although the latest jobs report was less than exciting for those waiting for economic recovery to cast a warming glow all across the land, the residential real estate market continued to jog along at a nice pace, as though earbuds were drowning out the din of negative energies trying to dissuade healthy activity. For the most recent week, buyer activity was higher than year-ago levels while listing activity registered lower. Keep watching inventory and sales activity throughout the summer to see if this runner’s high will continue into fall.
In the Twin Cities region, for the week ending May 26:
• New Listings decreased 8.5% to 1,387
• Pending Sales increased 19.2% to 1,231
• Inventory decreased 29.8% to 17,740
For the month of April:
• Median Sales Price increased 12.1% to $162,500
• Days on Market decreased 15.2% to 135
• Percent of Original List Price Received increased 3.7% to 93.4%
• Months Supply of Inventory decreased 41.7% to 4.8
As reported by the Minneapolis Area Association of Realtors.
Click on graph to view larger
Click on graph to view larger
Click on graph to view larger
For additional information on the market and for assistance buying and selling a home, contact us:
Coldwell Banker Burnet
Minneapolis Lakes Office
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Captured these two cardinals at the feeder on a window
This week’s photo challenge is to post an image that signifies summer. What signifies summer to you? Learn more about the Weekly Photo Challenge here.
Summer Photo #2
Waiting for the fireworks to begin
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Houses are just things. Boxes waiting to be filled. In the hands of caring, nurturing citizens, those simple boxes become homes that create memories and fortify communities for generations.
This month, more than 13,000 REALTORS® rallied at the Washington Monument to preserve the American Dream of homeownership. Some components of the dream are being threatened by budget pressures and market realities. But homeownership is very much alive and well, as more than three out of five residencies are owner-occupied in the U.S. Moreover, buyer demand has been impressive throughout the year. As Franklin D. Roosevelt famously stated: “A nation of homeowners is unconquerable.” Our response in 2012: Fill the box!
In the Twin Cities region, for the week ending May 12:
• New Listings decreased 11.8% to 1,485
• Pending Sales increased 18.9% to 1,159
• Inventory decreased 28.3% to 17,761
For the month of April:
• Median Sales Price increased 12.1% to $162,500
• Days on Market decreased 15.1% to 135
• Percent of Original List Price Received increased 3.6% to 93.4%
• Months Supply of Inventory decreased 42.4% to 4.7
Click on charts below to enlarge.
Number of Pending Sales Continue to Increase Each Month
Inventory Levels Continue Their Downward Trend
As reported by the Minneapolis Area Association of Realtors.
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If only there were a system of grand, colorful lights for tracking residential real estate. Green for rising market, yellow for a transitional market and red for declining market. Let’s see if we can try to determine today’s market without the ease of well-known signals. Prices are bottoming and starting to rise. Buyer activity is showing year-over-year gains. Homes are selling faster and closer to list price. Multiple offers are becoming commonplace. Inventory levels are leaning toward the seller. Green means go.
In the Twin Cities region, for the week ending May 5:
• New Listings decreased 6.6% to 1,643
• Pending Sales increased 41.9% to 1,232
• Inventory decreased 28.3% to 17,579
For the month of April:
• Median Sales Price increased 12.1% to $162,500
• Days on Market decreased 15.1% to 135
• Percent of Original List Price Received increased 3.6% to 93.4%
• Months Supply of Inventory decreased 43.1% to 4.7
As reported by the Minneapolis Area Association of Realtors.
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